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Las Vegas Sands agrees to pay Steve Jacobs $75 million in a settlement deal

ADELSON GROUP CRIES UNCLE IN LITIGATION WITH FORMER MACAU SENIOR EXECUTIVE
 
Las Vegas Sands agrees to pay Steve Jacobs $75 million in a settlement deal.
 
Sheldon Adelsons Las Vegas Sands Corp. has agreed to pay more than $75 million to settle a lawsuit by its former top Macau executive, Steve Jacobs, whose allegations prompted federal bribery investigations into the company, according to a report in the Wall Street Journal Tuesday.
 
The Las Vegas-based online gambling group settled the almost six-year wrongful termination judicial dispute lodged by Jacobs, the former CEO of Sands China
 
Sands China filed papers with the Hong Kong Stock Exchange announcing the settlement, observing:
 
“On or about May 31, 2016, the parties to the Proceedings reached a comprehensive and confidential settlement through which Mr. Jacobs dismissed all claims in the Nevada state and federal cases against our controlling shareholder, Las Vegas Sands Corp., the Company, our subsidiary Venetian Macau Limited, and Mr. Sheldon Gary Adelson and released all claims as of that date.”
 
The now abandoned action saw LVS fighting to avoid the Las Vegas courts exercising jurisdiction over the termination of Jacobs; some testy exchanges between Adelson and the presiding judge in Las Vegas, Elizabeth Gonzales, and an unsuccessful attempt by LVS to have the judge taken off the case.
 
There were also some startling revelations on how LVS operations in Asia were handled, which attracted the attention of the authorities and resulted in LVS paying hefty multi-million dollar state and federal regulatory fines.



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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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Huge Caribbean Hold’Em hit at Bovada Casino - A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.

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New PartyPoker Pro Richard Dubini - A regular player in the Latin American live circuit, Dubini will travel alongside partypoker ambassador Joao Simao to gain feedback from players about partypoker to help optimise both live and online poker for the local players.

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